12 sats \ 9 replies \ @Jon_Hodl 18 Oct 2023 \ on: Taproot Assets on Mainnet: A New Era for Bitcoin and Beyond 🌅 bitcoin
What is the purpose of "assets" on Taproot?
Genuinely curious.
Having bitcoin-native assets like stablecoins allows them to be put into payment channels, where they can be used for commerce.
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And shitcoins. This already happen on testnet
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My assumption is to try and take stablecoin market share and the accompanying transaction fees earned from it away from other chains, its a bet TRON took and it worked out for them, if it works we don't know
But if it does, could bring some volume to LND nodes and maybe expand a P2P native LN market with stablecoins, also the same applies for shitcoins moving over
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True. However, there's risk involved like compliance, SEC, regulation, etc.
Risk-free not exist when we're speaking about shitcoins on Bitcoin
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100% no free lunch, it could bring about a lot of issues like Lightning nodes requiring to register as money services businesses to transfer these assets and creating a walled garden KYC subset of the LN network
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Mint shitcoins and stablecoins
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Early adopters have continually iterated with our team over the last several months of testnet development, minting nearly 2,000 assets on testnet and syncing their nodes with our Universe server, a repository holding all the information needed for a wallet to initialize and download the state of a specific Taproot Asset, over 420,000 times
Yup hahah
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other assets. stablecoins, shitcoins, etc
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shitcoins
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